9 Jun 2015
Gold struggles to extend gains above USD 1180/Oz
FXStreet (Mumbai) - Gold prices are struggling to extend gains over and above USD 1180/Oz levels as the US dollar index has extended gains ahead of the US opening bell.
Rejected at USD 1182.9/Oz
The metal was rejected earlier today at USD 1182.9/Oz, as the USD index inched higher to 95.50; up 0.28% for the day. Still, the yellow metal has managed to sustain the gains, trading 0.5% higher on the day, mainly on account of weakness in the major European equities and Us index futures.
Gold investors will keep an eye on the sentiment on the Wall Street, give the signs of weakness in the futures and lack of major market moving data in the US.
Gold Technical Levels
e is located at 1183.78 (hourly 200-MA), above which gains could be extended to 1190.00. On the flip side, a break below 1173.04 (hourly 50-MA) could push the prices lower to 1162.5.
Rejected at USD 1182.9/Oz
The metal was rejected earlier today at USD 1182.9/Oz, as the USD index inched higher to 95.50; up 0.28% for the day. Still, the yellow metal has managed to sustain the gains, trading 0.5% higher on the day, mainly on account of weakness in the major European equities and Us index futures.
Gold investors will keep an eye on the sentiment on the Wall Street, give the signs of weakness in the futures and lack of major market moving data in the US.
Gold Technical Levels
e is located at 1183.78 (hourly 200-MA), above which gains could be extended to 1190.00. On the flip side, a break below 1173.04 (hourly 50-MA) could push the prices lower to 1162.5.